The recent settlement with the National Association of REALTORS® (NAR) has brought significant changes to how compensation offers are handled in real estate transactions.
While the National Association of REALTORS® lawsuit and settlement focused on the buyer experience when they included the term: “Buyers must have representation”, that doesn’t mean that ALL buyers must conform to this.
“I understand that it’s hard for everyone, but one cannot give in to emotions… we’ll have to draw lessons from the current crisis and now we’ll have to work on overcoming it.” – Boris Yeltsin
There is a lot of confusion and misinformation surrounding the NAR lawsuit settlement, that’s why we put this simplified explanation together.
Are agents doomed to make less money with the NAR Settlement? We don’t think so. In fact, commissions may even go up!
While the NAR settlement news might be making your team nervous, it’s merely a time of evolution in an industry that requires constant adaptation.